Market Study Forecasts CAR-T Cell Therapy Market to reach US$ 7.0 billion by 2032 With CAGR of 11.6%.
COVINA, Calif., May 25, 2023 /PRNewswire/ -- Market overview
CAR-T (chimeric antigen receptor) Cell Therapy has become a new type of cancer treatment where healthcare professionals change T-cells in the lab and then insert into cancer patient to find and destroy cancer cells. CAR-T Cell Therapy is a way to get a type of white blood cells i.e., T cells to fight against cancer disease by changing them in laboratory to find and destroy cancer cells.
Growing prevalence of cancer diseases has given positive impact on target market growth. Approval of CAR-T cell therapies has further, fueled the demand for target market growth. Ongoing research and development activities, and presence of major key players is anticipated to increase demand for CAR-T Cell Therapy market growth over the forecast period.
CAR-T cell therapy, also known as chimeric antigen receptor T-cell therapy, is an innovative form of immunotherapy used in the treatment of certain types of cancer. It involves modifying a patient's own immune cells, particularly T cells, to recognize and attack cancer cells more effectively.
The therapy begins by collecting a patient's T cells through a process called leukapheresis. These T cells are then genetically engineered in a laboratory to express a chimeric antigen receptor (CAR) on their surface. The CAR is designed to target a specific antigen present on cancer cells, allowing the modified T cells to recognize and bind to the cancer cells more effectively.
According to Prophecy Market Insights CAR-T Cell Therapy Market accounted for US$ 2.19 billion in 2022 and is estimated to be US$ 7.0 billion by 2032 and is anticipated to register a CAGR of 11.6%
Recent Key Highlights in the CAR-T Cell Therapy Market:
- In October 2022, Allogene Therapeutics launched new "CAR T Together" the first initiative with leading oncologists nationwide to support the development of allogeneic chimeric antigen receptor (CAR) T products to develop CAR T therapy more scalable and accessible to patients with cancers.
- In August 2022, Kite (a Gilead Company) launched new CAR-T Cell Therapy operations in Brazil, Saudi Arabia and Singapore to expand its business in CAR-T Cell market. Kite has set to bring access to CAR-T Cell Therapy in each new areas across globe where patients do not get potential treatment for advanced blood cancers.
Top Players in CAR-T Cell Therapy Market:
- Bristol Myer Squibb
- Merck & Co. Inc.
- Pfizer Inc.
- Bluebird Bio-Inc.
- Novartis AG
- Caribou Biosciences Inc.
- Celgene Corporation
- Sorrento Therapeutics Inc.
- Miltenyi Biotech
- Cartesian Therapeutics
New product launch and approval by FDA (Food and Drug Administration) has become a key factor in target market growth. Rising prevalence of cancer disease, high economic status and technological advancement has facilitated the demand for target market growth. Strategic partnerships of major key players and growing adoption of CAR-T Cell therapy is expected to provide lucrative opportunities in CAR-T Cell Therapy market growth in coming years.
Order free Sample Copy of the Report:
The CAR-T cell therapy market can be segmented based on various factors. Here are some common segmentation approaches:
- Hematologic Malignancies: CAR-T cell therapies have primarily been approved and used for the treatment of hematologic malignancies, including acute lymphoblastic leukemia (ALL), non-Hodgkin lymphoma (NHL), and multiple myeloma.
- Solid Tumors: While still in early stages, CAR-T cell therapies are being explored for their potential in treating solid tumors such as lung cancer, breast cancer, pancreatic cancer, and others.
- CD19: CAR-T cell therapies targeting the CD19 antigen have been successful in treating B-cell malignancies such as ALL and certain types of NHL.
- BCMA: CAR-T cell therapies targeting B-cell maturation antigen (BCMA) have shown promise in treating multiple myeloma.
- Other Targets: Research and clinical trials are underway to develop CAR-T cell therapies targeting other antigens, including CD20, CD22, CD30, HER2, EGFRvIII, and others.
Generation of CAR-T cells:
- First Generation: First-generation CAR-T cell therapies consist of T cells engineered to express a single CAR domain, providing activation signals upon antigen recognition.
- Second Generation: Second-generation CAR-T cell therapies incorporate additional co-stimulatory domains, such as CD28 or 4-1BB, to enhance T-cell activation and proliferation.
- Third Generation: Third-generation CAR-T cell therapies involve further modifications to improve persistence and anti-tumor activity.
- Relapsed/Refractory: CAR-T cell therapy has shown significant efficacy in patients with relapsed or refractory cancers, who have failed conventional treatments.
- First-line Setting: There are ongoing studies evaluating the use of CAR-T cell therapy as a first-line treatment option, either as a standalone therapy or in combination with other treatments.
- Regional or country-wise segmentation based on market demand, regulatory approvals, and healthcare infrastructure.
CAR-T Cell Therapy Market Value (2022)
US$ 2.19 billion
CAR-T Cell Therapy Market Projected Value (2032)
US$ 7.0 billion
CAR-T Cell Therapy Market CAGR (2022-2032)
· High Cos
· Manufacturing Complexity
· Safety Concerns
· Limited Target Antigens
Trends, Analysis, Forecast, Driver factors, challenges.
Grab your copy of Report Now:
Several factors are driving the growth and development of the CAR-T cell therapy market:
High Success Rates: CAR-T cell therapy has demonstrated remarkable success in treating certain types of blood cancers, such as acute lymphoblastic leukemia (ALL) and certain types of non-Hodgkin lymphoma. The high response rates and potential for durable remissions have generated significant interest and demand for this therapy.
Unmet Medical Need: CAR-T cell therapy offers a promising treatment option for patients who have exhausted conventional therapies or have limited treatment options. There is a significant unmet medical need for effective treatments in certain types of cancers, and CAR-T cell therapy provides new hope for these patients.
Regulatory Approvals: The regulatory approvals of CAR-T cell therapies by regulatory bodies, such as the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA), have facilitated market growth. These approvals have increased the accessibility of CAR-T cell therapies to patients and healthcare providers.
Increasing Investment and Research: The field of CAR-T cell therapy has witnessed significant investment from pharmaceutical companies, research institutions, and venture capitalists. This investment has fueled research and development efforts, leading to advancements in the technology, manufacturing processes, and clinical trials of CAR-T cell therapies.
Technological Advancements: Ongoing technological advancements have contributed to the improvement of CAR-T cell therapy. Innovations in gene editing techniques, vector design, and manufacturing processes have enhanced the efficiency, safety, and scalability of CAR-T cell production.
Growing Prevalence of Cancer: The global prevalence of cancer continues to rise, driving the demand for effective treatments. CAR-T cell therapy's ability to target and eliminate cancer cells has positioned it as a potential treatment option in this growing market.
Collaboration and Partnerships: Pharmaceutical companies are engaging in collaborations and partnerships with research institutions and academic centers to advance the development of CAR-T cell therapies. These collaborations leverage expertise, resources, and infrastructure to accelerate the clinical development and commercialization of CAR-T cell therapies.
Expansion into Solid Tumors: While CAR-T cell therapy has initially shown success in blood cancers, there is a growing interest in expanding its application to solid tumors. Researchers are exploring strategies to overcome the challenges associated with targeting solid tumors, which could significantly expand the market potential for CAR-T cell therapies.
Reimbursement Support: The availability of reimbursement support from healthcare systems and insurance providers has facilitated patient access to CAR-T cell therapy. Reimbursement policies that cover the cost of CAR-T cell therapy have reduced the financial burden on patients and healthcare institutions.
These driver factors, combined with ongoing research, clinical trials, and market competition, are expected to propel the growth and adoption of CAR-T cell therapy in the coming years.
Cancer or Tumor Profiling Market, By Technique (Genomics, Proteomics, Metabolomics, and Epigenetics), By Technology (Sequencing Techniques (NGS, Sanger Sequencing, and Pyro Sequencing), In Situ Hybridization, Immunohistochemistry, qPCR, and Microarray), By Application (Personalized Medicine, Oncological Diagnostics, and Research (Cancer Research and Biomarker Discovery)), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Trends, Analysis and Forecast till 2029
Gastric Cancer Treatment Market, By Treatment (Surgery, Chemo Therapy, Adjuvant Chemotherapy, Targeted Drugs Therapy (Sunitinib (Sutent), Trastuzumab (Herceptin), and Imatinib (Gleevec)), and Radiation Therapy), By End-User (Hospitals, Clinics, Specialized Cancer Treatment Centers, and Ambulatory Surgical Centers), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2029
Metastatic Cancer Treatment Market, By Product (Branded Medicines and Generic Medicines), By Therapeutic Indication (Breast Cancer, Melanoma, Lung Cancer, Prostate Cancer, Colorectal Cancer, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2030
About Prophecy Market Insights
Prophecy Market Insights is a leading provider of market research services, offering insightful and actionable reports to clients across various industries. With a team of experienced analysts and researchers, Prophecy Market Insights provides accurate and reliable market intelligence, helping businesses make informed decisions and stay ahead of the competition. The company's research reports cover a wide range of topics, including industry trends, market size, growth opportunities, competitive landscape, and more. Prophecy Market Insights is committed to delivering high-quality research services that help clients achieve their strategic goals and objectives.
To know more
Prophecy Market Insights
U.S.: +1 860 531 2574
RoW: +91 7775049802
LinkedIn | Twitter | Facebook |YouTube
SOURCE Prophecy Market Insights
Upcoming Life Sciences Events
- February 2024
- Biotechgate Digital Partnering February 2024
- March 2024
- Zurich: Swiss Nordic Bio 2024
- RRb: Why and How Rural Biotech Can Compete with Urban Hubs